Role Of The Baby Boomers Generation Through Time

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The “pig in the python” describes the role of the baby boomers generation through time. As the baby boomers creep towards retirement age, a problem comes in being able to provide retirement services for a large population from a comparatively smaller population of workers. The baby boomers were a generation that defined America, contributing much to it’s growth but in return created plenty of problems that we will deal with for years to come. Baby boomers grew up in a generation that had high hopes for the future of their country. More people mean’t more education, higher levels of income and thus more buying and spending than any previous generations in history. It was in itself, a generational movement of people who believed they were…show more content…
This effect may last for generations past the baby boomers, as social security benefits rely on taxes, and the large amount of baby boomers have more ability than anyone to deplete these resources for future generations. Improvements in medicine will surely increase how long the average person lives, and it will take an increasing amount of money to anticipate these changes. At the same time, the older a person lives, the more risk they are to needing assistance from other publicly funded services such as caretakers, and also to provide them with the medicine they need to get by. The financial collapse is a very complex issue rooted in multiple causes, making it hard to put into a single sentence. However at it’s core the reason for the collapse is that many investors and banks tried to get rich by taking on assumptions about the housing market and taking on huge risks that they didn’t realize the full extent of. The beginning of the crisis is rooted in banks giving out subprime loans to people who would have not otherwise been given these loans. The banks assumed that these loans could be bundled and the numbers proved that they were safe investments, because enough people would pay their loans back. Another assumption that people held was that, because the housing market had a history of continual rise, that history would repeat itself and the value of housing would always rise. The Efficient-Market hypothesis seemed to claim that economic bubbles are not
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